So they're trying to blame Chuck Schumer for the collapse

[malaise]

on IndyMac Bank

http://www.blacklistednews.com/?news_id=216
of IndyMac. Heard it on NBC news a few minutes ago.

The concerns were triggered by Sen. Charles E. Schumer (D-N.Y.), chairman of the Joint Economic Committee, who said in public letters to the FDIC and other bank regulators Thursday that IndyMac "could face a failure if prescriptive measures are not taken quickly." IndyMac said Monday that Schumer had created the "wrong impression" about the savings and loan's risks.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3604631



IndyMac bank had been sent into freefall after comments by Democratic Senator Charles Schumer last month concerning the bank's health prompted a flood of withdrawals by panicked customers.

The OTS's Reich said Schumer's comments gave the bank "a heart attack," according to the Wall Street Journal.

Schumer quickly responded: "If OTS had done its job as regulator and not let IndyMac's poor and loose lending practices continue, we wouldn't be where we are today," the Journal quoted him as saying.

Reports said IndyMac's collapse was the second biggest in US history behind the 1984 failure of the 40-billion-dollar Continental Illinois Bank.

http://afp.google.com/article/ALeqM5hHT0GmHDBOa4LFutdswkfe-SSvOg

Look at this headline:
Chuck Schumer Causes $1.3 Billion Run On IndyMac: Bank Failure Results
http://clipmarks.com/clipmark/A5306017-5805-4394-9C2B-A2CEB9305162/

Nothing about careless regulators and greedy banks.

Ah well - no surprise here.

[bahrbearian]

1. Were is Neil Bush?

[Mz Pip]

2. Wow

Chuck Schumer sure has a lot of power. Can he fly too?

[mdmc]

4. Chucky should state that the insurgency is in its last throes

Victory in Iraq finally!

[SmileyRose]

7. I bet Chuck can shoot lighting out his arse too.

right up there with William Wallace. :)

[DBoon]

8. He must be a witch!

Burn him!

[Divine Discontent]

3. a certain gov't agency failed in stopping their horrible suicidal policies

it's hardly Schumer's fault - but let's not let that stop them for blaming the senator for their failures - it's an easy blame...

More at --- www.cafepress.com/warisprofitable

[malaise]

5. That simple

Meet the Press should be interesting tomorrow - that's the talking point NBC is spinning for the boys.

[rndmprsn]

6. read that...i guess someone has to pay.

hopefully it won't stick to chuck.